The US Dollar appears vulnerable to a reversal downward against the Japanese Yen prices put in a bearish Evening Star candlestick pattern. A daily close below the 23.6% Fibonacci retracement at 103.64 exposes the 38.2% level at 103.15. Alternatively, a turn above the 23.6% Fib expansion at 104.14 opens the door for a challenge of the August 25 high at 104.44.

Risk/reward considerations argue against entering short with prices in close proximity to support. On the other hand, the absence of a defined bullish reversal signal suggests taking up the long side is premature. We will remain flat for now.